WCM Investment Management LLC Reduces Holdings in Illumina, Inc. (NASDAQ:ILMN)

WCM Investment Management LLC lessened its holdings in Illumina, Inc. (NASDAQ:ILMN - Free Report) by 2.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,262,182 shares of the life sciences company's stock after selling 90,705 shares during the quarter. WCM Investment Management LLC owned approximately 2.05% of Illumina worth $424,475,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in ILMN. Primecap Management Co. CA raised its stake in shares of Illumina by 462.5% during the second quarter. Primecap Management Co. CA now owns 2,428,760 shares of the life sciences company's stock valued at $253,514,000 after acquiring an additional 1,997,010 shares during the last quarter. Millennium Management LLC raised its position in Illumina by 305.0% during the 2nd quarter. Millennium Management LLC now owns 1,485,599 shares of the life sciences company's stock worth $155,067,000 after purchasing an additional 1,118,747 shares during the last quarter. Capital World Investors lifted its holdings in Illumina by 41.1% during the 1st quarter. Capital World Investors now owns 2,753,504 shares of the life sciences company's stock worth $378,111,000 after buying an additional 801,814 shares during the period. Marshall Wace LLP bought a new stake in shares of Illumina in the 2nd quarter valued at about $77,628,000. Finally, Swedbank AB acquired a new stake in shares of Illumina in the first quarter valued at about $99,682,000. 89.42% of the stock is currently owned by institutional investors and hedge funds.

Illumina Stock Up 0.3 %

NASDAQ:ILMN traded up $0.41 during trading hours on Monday, hitting $151.50. 1,438,198 shares of the company traded hands, compared to its average volume of 2,006,840. The company has a quick ratio of 0.86, a current ratio of 2.43 and a debt-to-equity ratio of 0.94. The company has a market cap of $24.03 billion, a PE ratio of -15.16 and a beta of 1.13. The firm's 50-day simple moving average is $138.09 and its 200-day simple moving average is $123.55. Illumina, Inc. has a one year low of $92.26 and a one year high of $156.66.

Illumina (NASDAQ:ILMN - Get Free Report) last released its earnings results on Monday, November 4th. The life sciences company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.26. The company had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.08 billion. Illumina had a positive return on equity of 7.29% and a negative net margin of 36.10%. Illumina's quarterly revenue was down 3.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.33 earnings per share. Equities analysts predict that Illumina, Inc. will post 4.11 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ILMN. Argus raised Illumina from a "hold" rating to a "buy" rating and set a $150.00 price objective on the stock in a research note on Wednesday, August 28th. Piper Sandler dropped their price target on shares of Illumina from $195.00 to $185.00 and set an "overweight" rating on the stock in a research report on Monday. Scotiabank decreased their price objective on shares of Illumina from $176.00 to $164.00 and set a "sector outperform" rating for the company in a research report on Thursday, August 15th. JPMorgan Chase & Co. boosted their target price on shares of Illumina from $125.00 to $140.00 and gave the company a "neutral" rating in a report on Tuesday, November 5th. Finally, Leerink Partners increased their price target on Illumina from $160.00 to $200.00 and gave the stock an "outperform" rating in a report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $163.71.

Illumina Company Profile

Illumina, Inc offers sequencing- and array-based solutions for genetic and genomic analysis in the United States, Singapore, the United Kingdom, and internationally. It operates through Core Illumina and GRAIL segments. The company offers sequencing and array-based instruments and consumables, which include reagents, flow cells, and library preparation; whole-genome sequencing kits, which sequence entire genomes of various size and complexity; and targeted resequencing kits, which sequence exomes, specific genes, and RNA or other genomic regions of interest.